554.9702  Savings clause.
  1.  Pre-effective-date transactions or liens.  Except as otherwise provided in this part, this Act* applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2001.
  2.  Continuing validity.  Except as otherwise provided in subsection 3 and sections 554.9703, 554.9704, 554.9705, 554.9706, 554.9707, 554.9708, and 554.9709:
  a.  transactions and liens that were not governed by former Article 9, were validly entered into or created before July 1, 2001, and would be subject to this Act* if they had been entered into or created after July 1, 2001, and the rights, duties, and interests flowing from those transactions and liens remain valid after July 1, 2001; and
  b.  the transactions and liens may be terminated, completed, consummated, and enforced as required or permitted by this Act* or by the law that otherwise would apply if this Act* had not taken effect.
  3.  Pre-effective-date proceedings.  This Act* does not affect an action, case, or proceeding commenced before July 1, 2001.
2000 Acts, ch 1149, §128, 187
*2000 Acts, ch 1149 
For future repeal of this section, effective July 1, 2013, see 2012 Acts, ch 1052, §34, 37